U.S. gross domestic product is likely to grow during 2023’s second half, according to new projections released Wednesday by the Congressional Budget Office.
U.S. gross domestic product is likely to grow by a 0.4% annual rate during this year’s second half, according to inflation-adjusted projections released Wednesday by the Congressional Budget Office. That would represent a slowdown but not a recession, and the nonpartisan agency sees real GDP increasing by 0.9% for the year as a whole, along with 1.5% growth next year and 2.4% growth in 2025.
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